SEC Delays Decisions on 21Shares and CoinShares XRP ETFs
SEC Extends Review for XRP ETFs from 21Shares and CoinShares
The U.S. Securities and Exchange Commission (SEC) has extended the decision timeline for spot XRP exchange-traded funds (ETFs) proposed by 21Shares and CoinShares. This includes the 21Shares Core XRP Trust and the CoinShares XRP ETF.
In separate notices published on August 18, the SEC designated longer periods to consider each application, moving the final decision deadlines into late October 2025.
Key Details:
- 21Shares Core XRP Trust: The deadline for the proposed listing on the Cboe BZX Exchange has been extended to October 19, 2025. The initial proposal was filed in February, amended, and republished later that month.
- CoinShares XRP ETF: The review deadline for the proposed listing on the Nasdaq Stock Market has been extended to October 23, 2025. CoinShares submitted its initial rule change on February 7, with publication following on February 25.
The SEC stated that additional time is needed to fully evaluate each filing.
These applications from 21Shares and CoinShares are part of a broader wave of crypto asset ETF proposals that emerged after the SEC's approval of spot Bitcoin and Ethereum ETFs last year.
The approval of Bitcoin and Ethereum ETFs opened the door for issuers to seek similar products tied to other digital assets like XRP, aiming to broaden investor access to the crypto market through regulated, exchange-traded vehicles.
The SEC has also delayed decisions on the CoinShares Litecoin ETF and the Truth Social Bitcoin and Ethereum ETF, which is a hybrid product proposed by Trump Media & Technology Group.
Bloomberg ETF analysts suggest that these delays are procedural and don't necessarily impact the likelihood of approval. XRP is now considered a top-tier candidate for a spot crypto ETF, alongside Litecoin and Solana. Industry experts estimate a 95% chance that the SEC will approve a fund tied to XRP.